Kenya has over 43 banks that enjoy huge profits every year but the existence of some of these banks will soon be cut short, thanks to Henry Rotich.
According to Treasury Cabinet Secretary Henry Rotich ,every bank should meet a certain threshold in order to continue existing in the Kenyan soil.
After a thorough analysis of the financial statements of all the banks in Kenya, the following banks did not meet the minimum threshold, they therefore risk closure:
• African Banking Corporation Ltd
• Credit Bank Ltd
• Consolidated Bank of Kenya Ltd
• Charterhouse Bank Ltd
• Giro Commercial Bank Ltd
• Habib Bank Ltd
• Habib Bank A.G Zurich
• Jamii Bora Bank Limited
• K-Rep Bank Ltd
• Middle East Bank (K) Ltd
• Oriental Commercial Bank Ltd
• Paramount Universal Bank Ltd
• Trans-National Bank Ltd
• UBA Kenya Bank Limited
• Victoria Commercial Bank Ltd
• Dubai Bank Kenya Ltd
• Development Bank of Kenya Ltd
• Equatorial Commercial Bank Ltd
• First community Bank Limited
• Fina Bank Ltd
• Fidelity Commercial Bank Ltd
• Gulf African Bank Limited
This is pure propaganda. All banks in Kenya have met the minimum capital base of 1 billion. I blame the jittery in the market on CBK . Tell people more on point #5 in yesterday’s letter
Which new regulations? There is no new regulation trust me. The last major one I know of is prudential guidelines issued in 2013 to revise the 2006 one
Am not an econ/finance guru but this list is just pure propaganda/lies. This is just same to those that are shared around in facebook. Pengine been in existence since 2002. Si hata hii Dubai bank is no longer operational?
A certain kale fella was telling me that Fina Bank was bought by Gideon Moi (ati GT stands for Gideon Toroitich) and Nigerian Conglomerates. Thanks for the clarification Mukomu.
And in your opinion zinaonewa right? Case in point, Dubai bank, most of the victims or their customers who have been affected by the bank going under, are muslims, ask me I know, who’s relatives remittances from Europe and the Arabian Peninsula were through that Bank.